NATIONAL RETAIL PROPERTIES, INC. ANNOUNCES 2021 DIVIDEND TAX STATUS

Rhea-AI Summary

National Retail Properties (NYSE: NNN) announced that in 2021, 76.9406% of dividends to common shareholders were classified as taxable distributions. The total common stock dividend was $2.10 per share, marking the thirty-second consecutive annual increase. 100% of Preferred Series F dividends were also taxable. This consistency highlights the company's commitment to returning value to shareholders, even in challenging times. As of September 30, 2021, the company owned 3,195 properties across 48 states, emphasizing its robust portfolio.

Positive

• Dividends of $2.10 per share for common stock, the thirty-second consecutive annual increase.
• 76.9406% of common dividends classified as taxable distributions reflects strong cash flow.
• Robust portfolio with 3,195 properties, enhancing stability for shareholders.

Negative

• None.

ORLANDO, Fla., Jan. 12, 2022 /PRNewswire/ -- National Retail Properties, Inc. (NYSE:NNN), a real estate investment trust, announced today that 76.9406% of the dividends paid to common shareholders and 100.0% of the dividends paid to shareholders of its Preferred Series F in 2021 are classified for federal income tax purposes as a taxable distribution.  The tax attributes of the dividends paid per share are outlined below.

		Total Dividend		Ordinary Dividend (Box 1a)			Non-taxable Distributions (Box 3)		Section 199A Dividends (1)  (Box 5)
Common Stock  (CUSIP #: 637417106)
		100.0000%		76.9406%			23.0594%		76.9406%
		$2.100000		$1.615753			$0.484247		$1.615753
Preferred Series F (CUSIP #: 637417874)(2)
		100.0000%		100.0000%			0.0000%		100.0000%
		$1.086944		$1.086944			$0.000000		$1.086944

(1)	Dividends eligible for the 20% qualified business income deduction under Section 199A and included in Box 1a, Ordinary Dividend.
(2)	All Preferred Series F shares were redeemed on October 16, 2021.

"The common dividend of $2.10 per share paid in 2021 marked the thirty-second consecutive annual dividend increase for National Retail Properties," said Kevin Habicht, Chief Financial Officer.  "This consistent dividend, in good times and challenging times, has been an important part of the company's total return to shareholders."

National Retail Properties invests primarily in high-quality retail properties subject generally to long-term, net leases.  As of September 30, 2021, the company owned 3,195 properties in 48 states with a gross leasable area of approximately 33.0 million square feet and with a weighted average remaining lease term of 10.6 years. For more information on the company, visit www.nnnreit.com.

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SOURCE National Retail Properties, Inc.

FAQ

What percentage of the NNN dividends were taxable in 2021?

In 2021, 76.9406% of dividends paid to common shareholders were classified as taxable distributions.

How much was the dividend per share for NNN in 2021?

The dividend paid per share for NNN in 2021 was $2.10.

What is the tax status of Preferred Series F dividends for NNN?

100% of the dividends paid to shareholders of Preferred Series F were classified as taxable distributions.

How many properties does National Retail Properties own?

As of September 30, 2021, National Retail Properties owned 3,195 properties.

What is the significance of NNN's dividend increase?

The $2.10 dividend marks the thirty-second consecutive annual increase, indicating the company's commitment to providing returns to its shareholders.